Computational Model Library

PolicySpace2: modeling markets and endogenous public policies

B Furtado | Published Thu Feb 25 13:21:22 2021 | Last modified Fri Jan 14 13:46:42 2022

Policymakers decide on alternative policies facing restricted budgets and uncertain future. Designing public policies is further difficult due to the need to decide on priorities and handle effects across policies. Housing policies, specifically, involve heterogeneous characteristics of properties themselves and the intricacy of housing markets and the spatial context of cities. We propose PolicySpace2 (PS2) as an adapted and extended version of the open source PolicySpace agent-based model. PS2 is a computer simulation that relies on empirically detailed spatial data to model real estate, along with labor, credit, and goods and services markets. Interaction among workers, firms, a bank, households and municipalities follow the literature benchmarks to integrate economic, spatial and transport scholarship. PS2 is applied to a comparison among three competing public policies aimed at reducing inequality and alleviating poverty: (a) house acquisition by the government and distribution to lower income households, (b) rental vouchers, and (c) monetary aid. Within the model context, the monetary aid, that is, smaller amounts of help for a larger number of households, makes the economy perform better in terms of production, consumption, reduction of inequality, and maintenance of financial duties. PS2 as such is also a framework that may be further adapted to a number of related research questions.

Peer reviewed BAM: The Bottom-up Adaptive Macroeconomics Model

Alejandro Platas López Alejandro Guerra-Hernández | Published Tue Jan 14 17:04:32 2020 | Last modified Sun Jul 26 00:26:21 2020



Modeling an economy with stable macro signals, that works as a benchmark for studying the effects of the agent activities, e.g. extortion, at the service of the elaboration of public policies..

Crowdworking Model

Georg Jäger | Published Wed Sep 25 06:25:58 2019

The purpose of this agent-based model is to compare different variants of crowdworking in a general way, so that the obtained results are independent of specific details of the crowdworking platform. It features many adjustable parameters that can be used to calibrate the model to empirical data, but also when not calibrated it yields essential results about crowdworking in general.
Agents compete for contracts on a virtual crowdworking platform. Each agent is defined by various properties like qualification and income expectation. Agents that are unable to turn a profit have a chance to quit the crowdworking platform and new crowdworkers can replace them. Thus the model has features of an evolutionary process, filtering out the ill suited agents, and generating a realistic distribution of agents from an initially random one. To simulate a stable system, the amount of contracts issued per day can be set constant, as well as the number of crowdworkers. If one is interested in a dynamically changing platform, the simulation can also be initialized in a way that increases or decreases the number of crowdworkers or number of contracts over time. Thus, a large variety of scenarios can be investigated.

Takács, K. and Squazzoni, F. 2015. High Standards Enhance Inequality in Idealized Labor Markets. Journal of Artificial Societies and Social Simulation, 18(4), 2,
We built a simple model of an idealized labor market, in which there is no objective difference in average quality between groups and hiring decisions are not biased in favor of any particular group. Our results show that inequality in employment emerges necessarily also in such idealized situations due to the limited supply of high quality individuals and asymmetric information. Inequalities are exacerbated when employers have high standards and keep only the best workers in house. We found that ambitious workers get higher quality jobs even if ambition does not correlate or even negatively correlates with internal quality. Our findings help to corroborate empirical findings on higher employment discrepancies in high rather than low status jobs.

A simple agent-based spatial model of the economy

Bernardo Alves Furtado Isaque Daniel Rocha Eberhardt | Published Thu Mar 10 18:26:16 2016 | Last modified Tue Nov 22 15:08:38 2016

The modeling includes citizens, bounded into families; firms and governments; all of them interacting in markets for goods, labor and real estate. The model is spatial and dynamic.

ABSAM model

Marcin Wozniak | Published Mon Aug 29 10:15:38 2016 | Last modified Tue Nov 8 10:57:50 2016

ABSAM model is an agent-based search and matching model of the local labor market. There are four types of agents in the economy, which cooperate in the artificial world, where behavioral rules were extracted from the labor market search theory.

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